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Customer engagement solutions provider files for $75M IPO


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Customer engagement solutions provider files for $75M IPO

Customer engagement solutions provider IBEX Holdings Ltd. has filed for an IPO of its common shares.

The proposed maximum aggregate offering price is about $75 million, estimated solely for calculating the registration fee and includes any shares that underwriters may purchase under their overallotment option.

Up to 5% of the shares that will be sold in the offering will be reserved for certain business associates, officers, directors, certain of their family members and others at the IPO price through a directed share program.

IBEX is a provider of technology-enabled customer lifecycle experience solutions. It has executive management offices in Washington, D.C., and is an exempted company incorporated under Bermuda laws. Through its customer lifecycle experience platform, it offers solutions for customer acquisition, engagement, expansion and experience.

The Resource Group International Ltd., controlled by publicly traded Pakistan corporation TRG Pakistan Ltd., owns about 92.8% of IBEX. After the offering, The Resource Group International and TRG Pakistan will continue to have substantial control over the company.

IBEX said it will be subject to fewer public company reporting requirements as it is classified as an emerging growth company under the Jumpstart Our Business Startups Act of 2012. After the IPO, it will be tagged as a controlled company.

The company plans to use the net proceeds of the offering primarily to redeem and repay certain notes. The remaining net proceeds will be utilized for working capital, capital expenditures, future strategic acquisitions of, or investments in, other businesses or technologies. The company will not receive any proceeds from the sale of common shares by the selling shareholder.

The company plans to apply to list its common shares on the Nasdaq Global Market under the symbol IBEX.

Robert W. Baird & Co. Inc., Piper Jaffray & Co., William Blair & Co. LLC and SunTrust Robinson Humphrey Inc. were listed as underwriters for the offering.